OPPJ: WISDOMTREE JAPAN OPPORTUNITIES FUND
Share-split context: A forward split was recorded on Aug 10, 2023 with coefficient 2. A forward split turns each old share into multiple new shares and lowers the quoted price per share proportionally. Proportional ownership is unchanged at the split moment, so the split itself creates neither a gain nor a loss. The price-return figures in this report are already split-adjusted.
What this ETF is trying to do
The WisdomTree Japan Opportunities Fund (OPPJ) is an ETF designed to provide exposure to opportunities within the Japanese market. It holds a variety of companies, including several large corporations.
Top Holdings
Based on the most recent data, the fund's largest holdings include:
• Marubeni Corp (11.25%)
• Mitsui & Co Ltd (10.47%)
• Mitsubishi Corp (10.24%)
• Sumitomo Corp (8.72%)
• Itochu Corp (7.47%)
Please note that this is a partial list of the fund's holdings, and these weights can change over time.
What the numbers show
The performance of OPPJ can be looked at in two ways: price return and total return. The price return only tracks how much the share price has changed. The total return includes both the change in share price and the impact of distributions (cash paid out to investors).
Here is how the fund has performed:
• Year-to-Date (YTD): The price return is approximately 28.20%, while the total return is approximately 29.08%.
• One-Year: The price return is approximately 39.21%, while the total return is approximately 40.90%.
• Three-Year: The price return is approximately 109.01%, while the total return is approximately 126.38%.
The fund has a history of forward splits. The most recent event occurred on August 10, 2023. In a forward split, each old share becomes multiple new shares, which causes the quoted per-share price to fall proportionally. This change does not create a gain or a loss for the investor; it is simply a structural adjustment.
Income and distribution explanation
OPPJ provides cash distributions to investors, but they are described as "irregular" or "less frequent." Over the last 12 months, there were 3 payouts. The distribution yield is approximately 1.07%.
It is important to remember that a distribution yield tells you how much cash was paid out relative to the ETF price, but it is not the same as your total return.
NAV erosion explanation
"NAV erosion" refers to a decline in the Net Asset Value (the actual value of the assets held by the fund). The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion.
However, regarding price-based evidence, the fund has an erosion score of 100, which is labeled as "No price erosion detected." The erosion severity is rated as "good," and there is no severe erosion-risk flag present.
Pros
• The fund has shown strong positive price and total returns over the one-year and three-year periods.
• The erosion-risk measurements suggest there has been no significant price deterioration.
Cons
• Distributions are irregular and occur less frequently than some other types of income funds.
• The fund's performance is tied to the Japanese market.
Beginner takeaway
When researching OPPJ, it is helpful to distinguish between price return and total return. While the share price has grown significantly, the total return is even higher because it accounts for the cash distributions paid out. Because this fund has a history of forward splits, looking at split-adjusted percentage returns is the most accurate way to view its growth.
Top Holdings
Structured portfolio holdings supplied by the ETF data provider. These figures are not generated by the AI article.
| # | Holding | Ticker | Weight |
|---|---|---|---|
| 1 | MARUBENI CORP | n/a | 11.25% |
| 2 | MITSUI & CO LTD | n/a | 10.47% |
| 3 | MITSUBISHI CORP | n/a | 10.24% |
| 4 | SUMITOMO CORP | n/a | 8.72% |
| 5 | ITOCHU CORP | n/a | 7.47% |
| 6 | SOFTBANK CORP | n/a | 2.45% |
| 7 | KAWASAKI HEAVY INDUSTRIES LTD | n/a | 2.07% |
| 8 | TOKYO ELECTRON LTD | n/a | 2.01% |
| 9 | KIOXIA HOLDINGS CORP ORDINARY SHARES | n/a | 1.96% |
| 10 | MITSUBISHI HEAVY INDUSTRIES LTD | n/a | 1.96% |